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| Words: 1375 | Submitted: 14-Jul-2011
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Descriptionits about a brewery in africa, and its potentials for growth
1.1 Brief company overview
Established in 1922 and with its headquarters in Nairobi- Kenya, East African Breweries Ltd. (EABL) is a
leading branded alcohol manufacturing company in the East African region engaged in the marketing,
brewing and selling of alcoholic and non- alcoholic drinks as well as the manufacturing of glass containers.
Majority owned by Diageo, it consists of a number of subsidiaries.
1.2. Research rationale.
Compared to their counterparts in the developed world, little research has been carried out on organizations
that operate in African countries as these are seen as lacking the management capacity or financial resources
either to compete with larger organizations in the developed world or to interest international investors.
However the events of the last two years, which have seen investors lose millions of dollars in their
investments due to the collapse of the international financial markets, have increased the need for
international investors to diversify their portfolios into regions hitherto considered unimportant. By carrying
out a critical business and financial evaluation of the performance of a typical large African organization, this
report attempts to highlight the missed opportunities that may remain untapped in emerging markets.
With annual revenues of KES 21 billion (US$ 285 million), KES 26 billion (US$ 367 million) and KES 32
billion (US$ 479 million)2in FY06, FY07 and FY08 respectively and an adherence to international
accounting and audit standards i.e. IFRSs and ISAs respectively, this company may represent a well
managed company with growing profitability and investment potential. This report attempts to establish
this by analyzing its business and financial performance over a three year period.
To assist in the analysis of EABLís performance the average exchange rate prevalent in the three years under study are as follows:
Table 1: Foreign exchange rates.
Average annual exchange rate
Calendar Year US Dollars (USD) Kenya Shillings (KES)
2006 1 73.73870
2007 1 70.80733
2008 1 66.83044
Source: Oanda (2009)
1.3. Research objective and question.
This research delves into both the business and financial performance of EABL with an aim to identify
the major business elements that are key to its performance. It goes further to look at how these
business factors have impacted on the financial performance of the company.
It is difficult to separate the financial performance of a company from its ...
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